Blockchain’s calm before the storm

Eric
Eric
Sep 7, 2018 · 2 min read

The way I think about the blockchain and cryptocurrencies is that each feature of this phenomenon are going thru the tech cycle at different points of the line.

Before I discuss that some more, let us name the features of blockchain as far as i can see:

  1. Currency
  2. Smart contracts
  3. Fundraising (ICOs)
  4. Security/Equity representation
  5. Distributed, censorship resistant dapps
  6. DAO (decentralized autonomous organization)
  7. immutable tracking / provenance
  8. mining / new type of income such masternodes.
  9. untrackable movement of cash or privacy coins
  10. IoT communication and incentivization layer
  11. non-fungible asset representation
  12. permissioned, consortium run blockchains

All of these features are going thru the oscillating waves of adoption and building its faithful fans. Some are super early, some are already in phase 2 or 3 in the tech adoption cycle but to add to that complexity, wrapped in a meta-cycle of a new speculative instrument or asset class.

This explains how slow it is for the whole cryptomarket to move up the value chain consistently as each of the features need to be in a good place for this whole thing to fly.

But astute analysts should be seeing an unprecedented smorgasbord of features and benefits stuffed in a single new innovation! Once each of these features starts working or maybe even 1/4 of these reach viability, it will just be an unstoppable global shift where multiple industries will be disrupted at the same time and at such a rapid pace. The incumbents at the venture capital, securities market, fintech, logistics, centralized trust, etc have had their warning on the first wave, get complacent when the tech seems like it petered out (2018) and get “surprised” on the real disruption phase. (could be 2019–2020).

So my belief in this perspective anchors my surety that we are just in the early innings and anyone who got into crypto / blockchain should not lose perspective and manage their mental game by zooming out to see the big picture and how today really looks like waves receding before a gigantic tsunami crashes into industries that need disrupting.

History does not repeat, but it sure rhymes.
Make sure you catch the wave this time.

Predict

where the future is written

Eric

Written by

Eric

Focused on product and design. Into cryptocurrency, gamification, ux, pop culture and startups.

Predict

Predict

where the future is written

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